Crestone Asset Management LLC Has $1.75 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Crestone Asset Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the 4th quarter, HoldingsChannel reports. The fund owned 12,432 shares of the information services provider’s stock after purchasing an additional 550 shares during the period. Crestone Asset Management LLC’s holdings in Alphabet were worth $1,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Balanced Wealth Group LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $429,000. Patrick M Sweeney & Associates Inc. acquired a new position in Alphabet during the fourth quarter worth $2,037,000. Sovereign Financial Group Inc. boosted its stake in shares of Alphabet by 0.7% in the 4th quarter. Sovereign Financial Group Inc. now owns 57,866 shares of the information services provider’s stock valued at $8,155,000 after purchasing an additional 395 shares in the last quarter. Sage Investment Advisers LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $1,029,000. Finally, CTC LLC lifted its holdings in Alphabet by 540.0% during the 4th quarter. CTC LLC now owns 340,685 shares of the information services provider’s stock valued at $48,013,000 after purchasing an additional 287,449 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.9 %

Shares of NASDAQ:GOOG traded up $3.15 during midday trading on Tuesday, hitting $172.98. The company had a trading volume of 21,087,028 shares, compared to its average volume of 22,735,842. The firm has a fifty day simple moving average of $152.74 and a 200 day simple moving average of $144.21. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.26 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $105.79 and a 12 month high of $176.42.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 EPS. On average, analysts predict that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

Several analysts have recently weighed in on GOOG shares. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $165.67.

Insider Activity at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.